When implementing energy efficiency and conservation measures such as, for example, infrastructure changes, operational modifications, equipment retrofits and new energy management technologies in buildings in order to reduce energy use and thus energy costs, there has always been an issue of determining the “true” savings. Traditionally, two approaches have been utilized to determine energy savings for buildings, namely, high-level statistical correlation models using monthly degree-days and detailed facility models incorporating all on-site equipment and building parameters.
While degree-day models may be implemented off-site with historical data consisting of only monthly degree-days and energy bills and utilizing statistical regression models, these models have proven to be fairly inaccurate. Conversely, facility models have proven to be very accurate, but these models, such as DOEII, are very complex and require an extensive on-site evaluation of building design parameters, such as, for example, window coverage, directional orientation, insulation, and equipment, such as chillers, boilers, HVAC systems, lighting and motors. As a result, these models have been proven to be impractical in terms of time and cost for use with a portfolio of buildings, especially dispersed across a large geographic region.
As a consequence, without a timely, low-cost and accurate method to determine the true savings in energy and cost from energy efficiency and conservation measures, traditional performance contracts and new tradable conservation attribute markets have been difficult to implement.
This new tradable commodity, known as an Energy Efficiency Certificate (EEC), also sometimes referred to as an Energy Efficiency Credit, Energy Savings Certificate, and White Certificate, represents the value of energy not used at a building through the implementation of energy efficiency and conservation projects. Several U.S. states have passed legislation specifying that tradable EECs may be used to meet mandates for reducing energy generated in their state. In these states, the electricity suppliers may purchase EECs equivalent to a percentage of their total annual retail sales, such as 4% by 2010 in the state of Connecticut. Not only do electricity suppliers in these “mandated” states purchase EECs, but many businesses, governmental agencies and educational institutions also purchase EECs voluntarily to reduce indirect Greenhouse Gas (GHG) emissions. Since an EEC has the environmental attributes of avoided air emissions including SO2, NOx and CO2 associated with it in accordance with the location of the energy reduction, an EEC may be purchased to reduce indirect CO2 emissions. In the case of the former, states with mandates, EECs are certified by the states, usually under the direction of the public utility commissions. In the case of the latter, voluntary transactions, EECs are certified by non-profit certification organizations such as Environmental Resources Trust, Inc. (ERT). In either case, the key issue for certification is Measurement and Verification (M&V) of the energy savings derived from the energy efficiency or conservation project. The M&V process must be both highly accurate and low cost in order for the EEC market to fully develop and expand across customer classes.
It would be desirable to provide a computer-based system, computer-implemented method and computer program product for accurately determining true savings in energy and cost that is practical to implement and cost effective. The present invention addresses such problems and deficiencies and others in the manner described below.